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Hawaii luxury hotels see strong year-to-date growth in occupancy, revenue

July 20, 2013 Destination Hawaii No Comments Email Email

egtmedia59Hawaii luxury hotels experienced strong growth during the first five months of the year, with increases in occupancy, average daily room rates and revenue per available room, according to a report released Friday by Hospitality Advisors LLC and Smith Travel Research.

Luxury hotels on Oahu were the biggest winners, with revenue per available room, or RevPAR — a key measure of hotel performance — at $318.84 for the first five months of the year, a 19 percent increase compared to the same period last year. Average daily room rates rose nearly 11 percent to $434.98 from January through May, from $392.43 for the same period last year. Luxury hotel occupancy increased more modestly, to 73.3 percent from 68.3 percent, a 5 percentage point increase.

Statewide, luxury hotel RevPAR increased by 12.5 percent during the first five months of the year to $335.38 from $298.12 during the same period in 2012 to. Average daily room rates increased 7.7 percent to $459.26, from $426.58 in 2012. Luxury hotel occupancy increased by 3.1 percentage points statewide to 73 percent, from 69.9 percent last year.

Edited by : Bill Hurley

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